Bank of Nova Scotia Invests $22.88 Million in Timken Company (The) $TKR

Key Points

• Bank of Nova Scotia acquired 157,439 Timken shares worth approximately $22.88 million in the second quarter, representing about 0.23% of the company. Institutional investors collectively own 89.08% of TKR.
• Timken exceeded quarterly expectations, reporting $1.83 in adjusted EPS and $1.26 billion in revenue, while revenue grew 7.5% year over year. The company maintained fiscal 2026 EPS guidance of $6.05–$6.35.
• Analysts have a “Moderate Buy” consensus and an average price target of $150, compared with the stock’s reported $125.07 opening price. Timken also declared a quarterly dividend of $0.36 per share, yielding approximately 1.2% annually.

Bank of Nova Scotia acquired a new stake in shares of Timken Company (The) (NYSE:TKR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 157,439 shares of the industrial products company's stock, valued at approximately $22,879,000. Bank of Nova Scotia owned approximately 0.23% of Timken as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TKR. BlackRock Inc. purchased a new stake in Timken during the 2nd quarter worth approximately $869,997,000. Dimensional Fund Advisors LP lifted its position in Timken by 8.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,886,955 shares of the industrial products company's stock worth $290,320,000 after acquiring an additional 214,845 shares during the period. UBS Group AG grew its stake in Timken by 734.7% during the 3rd quarter. UBS Group AG now owns 2,286,250 shares of the industrial products company's stock valued at $171,880,000 after purchasing an additional 2,012,352 shares during the last quarter. Victory Capital Management Inc. grew its stake in Timken by 15.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,843,042 shares of the industrial products company's stock valued at $155,055,000 after purchasing an additional 247,000 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Timken by 1.0% in the fourth quarter. Invesco Ltd. now owns 1,371,613 shares of the industrial products company's stock valued at $115,394,000 after purchasing an additional 13,459 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Timken

In related news, Director Ajita G. Rajendra sold 8,450 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $131.34, for a total value of $1,109,823.00. Following the completion of the transaction, the director directly owned 20,225 shares in the company, valued at $2,656,351.50. The trade was a 29.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard G. Kyle sold 13,637 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $126.63, for a total transaction of $1,726,853.31. Following the completion of the transaction, the director owned 183,724 shares of the company's stock, valued at approximately $23,264,970.12. This represents a 6.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 30,535 shares of company stock valued at $3,912,529. Insiders own 8.10% of the company's stock.

Timken Stock Down 0.0%

Shares of TKR opened at $125.07 on Monday. Timken Company has a 52 week low of $70.57 and a 52 week high of $146.37. The company has a quick ratio of 1.74, a current ratio of 3.10 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 1.47 and a beta of 1.21. The stock's 50-day moving average price is $136.75 and its 200-day moving average price is $119.58.

Timken (NYSE:TKR - Get Free Report) last posted its earnings results on Tuesday, August 4th. The industrial products company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.62 by $0.21. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion. Timken had a return on equity of 12.63% and a net margin of 5.43%.Timken's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. Timken has set its FY 2026 guidance at 6.050-6.350 EPS. On average, sell-side analysts predict that Timken Company will post 6.26 EPS for the current year.

Timken Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 18th. Timken's payout ratio is 39.02%.

Analyst Ratings Changes

A number of research firms recently commented on TKR. JPMorgan Chase & Co. lifted their target price on Timken from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Timken from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday. DA Davidson set a $130.00 price target on shares of Timken in a research report on Friday, August 14th. The Goldman Sachs Group lifted their price objective on shares of Timken from $128.00 to $142.00 and gave the company a "neutral" rating in a research note on Friday, July 10th. Finally, Evercore reaffirmed an "outperform" rating and issued a $158.00 price objective on shares of Timken in a report on Monday, May 11th. Six research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $150.00.

Timken Profile

The Timken Company is a global manufacturer specializing in engineered bearings and mechanical power transmission products. Its core offerings include tapered and cylindrical roller bearings, spherical and plain bearings, mounted bearing units, and precision gear drives. Timken's products serve a broad range of industries, from industrial machinery and aerospace to automotive, rail, wind energy and heavy equipment.

Beyond bearings, Timken's portfolio extends to industrial chains, belts, couplings and related components designed to optimize power transmission systems.

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